53-55 Cataract Avenue

Description

BEING SOLD “AS IS.” Rare opportunity to own a legal duplex consisting of two separate but attached Cape-style single-family homes with excellent investment and redevelopment potential. #53 (Built 1984) 1696sf, 3 bedrooms, 2 full baths, FHW Natural Gas Boiler just fully serviced and cleaned. Full unfinished basement, Currently partially occupied (two tenants renting second-floor bedrooms), First floor is vacant. #55 (Built 1940) 572sf, 2 bedrooms, 1 full bath, New FHA Natural Gas Furnace, Full unfinished basement, Significant structural foundation damage, One tenant-occupied. A full home inspection has been completed and will be provided in full to serious buyers. IMPORTANT: Due to the compromised foundation of #55, this property is not financeable through conventional, FHA, VA, or USDA loans. Sale must be cash or rehab financing only. With its legal duplex status, the possibilities are extensive: Renovate #55 and maximize rental income - Remove and rebuild #55 - Replace #55 with a 2-car attached garage and apartment above - Convert back to a single-family home with or without garage expansion. Interior showings require 24-hour notice. Please note that interior access to #55 will be granted to serious, qualified buyers only. Photos of tenant-occupied areas are not publicly available. Located in a wonderful neighborhood close to the high school (only a half mile away), middle school, Route 16 (Spaulding Turnpike), and downtown, this property offers strong upside potential at an attractive price point. PLEASE NOTE: No offers will be accepted until Wednesday March 5th at 6pm, when seller will review any and all offers up to that date and time.